The One and Only Bank Stock I'm Buying for 2022
Much like the case a year ago, one bank stock tops my personal buy list: SVB Financial Group (NASDAQ: SIVB), the parent organization of Silicon Valley Bank. With just a couple of weeks to go until 2022, these shares are one of my top performers in the past year, sporting an 80% year-to-date return as of this writing.
Higher interest rates and the threat of inflation beat down most growth stocks this year, but not SVB. Banks do well in a higher rate environment, and that bodes well for SVB in 2022 as well -- not to mention the ongoing expansion of the "innovation economy" that SVB serves. I'm still a buyer.
Image source: Getty Images.
Source Fool.com